UK - Isis Asset Management has been awarded an £125m fixed income mandate from the Rhondda Cynon Taf County Borough Council Pension Fund.
Isis director of government bonds Richard Stevens will assume responsibility for the fixed interest assets within the scheme’s £675m portfolio.
The mandate is for UK and global bonds with a 76% All Stocks Index/24% JPMorgan World ex-UK and Japan benchmark.
Stevens said: “The strategy allows me to retain enough autonomy to be able to move into index-linked or corporate bond issues.”
The scheme sought new management for the mandate after a review by Rhondda Cynon Taf’s investment panel, which suggested a separate bond portfolio should be created.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.